MINING INTELLIGENCE.

Nelson Evening Mail, Volume VI, Issue 37, 13 February 1871, Page 2

MINING INTELLIGENCE.

0 ' mr. h. j. l. augarde's weekly report. Culliford Gold-mining Company £10 Shares, £3 10s. paid. There is a disposition to sell, but investors are shy, till something is heard of the first crushing. There is a report abroad that no crushing will take placß until such time as all calls are paid up. There is uo doubt that some shareholders are wailing to see the results of the crushing, yet it is hoped the company will push the crushing a-head, because they have the power to compel shareholders to pay up their overdue calls, and it would be most uufair to the large body who have willingly paid up all calls, aod waited very patiently for the longtalked of and expectant crushing. Perseverance G old-m ining Comp any £5 Shares, £2 paid. A few shares chaDged hands at £1 per share this week. This is the lowest price, aud the greatest discount ever yet obtained, aud is to be accounted for by- holders becoming weary of waiting for a dividend. The Lady Barkly brought over 63 ozs. of gold, the results of 180 tons of quartz crushed, averagiug 7 pennyweights per ton. The value is £235, making £3300 worth of gold iv 10 crushings, thus proviug indisputably that'gold is there, aud can be obtained ; all t'-at is required is more power and increased- machinery. It is quite evident that quantity is the thing to be arrived at. The work must be got through quick, and to do this more power is required. Mr. Adams, the Working Manager, is now in Nelson to give particulars relative to the increased water power required ; the matter will be settled by the direction it is hoped, so that this promising mine may really go a-head, and pay the good natured shareholders a long looked for dividend. Doran's Gold Mining Company's £5 Shares, £2 10s. paid. Machinery will be completed withiu one week. 'The contract is taken to make a road to the machine site. Too question of wire tramway, or wooden tramway is a matter for the directors to settle. No doubt that which is the cheapest, most durable, and easiest to repair will be adopted. • Pioneer Shares, £8 paid, Lucky Hit Shares, £10 paid, Masonic Shares, £12 10s. paid, and Mount Ophir Shares

£9 paid. Commercial Shakes, £21 Ids. paid. Eight dwts. per ton lias been obtained from this mine, from l\h tons of quartz crushed. Sutherland Gold Mixing Com:pa.ni', £1 Shares, 10i. pai«J. No pews ac present. Colling wood Coal Company's Shakes £120, £140 paid. The shareholders meeting came off on the Bth iust. Messrs Heury Cross, Everett, Field, and Webster, were made Directors. As tlieso gentlemen are largely interested, and have the interest of the mine at heart, there is no doubt but this is oue move in the right direction. This deserving Company is at last advancing ; their debts amount to about £300, a mere bagatelle, din they obtain the £20 per share now, of rather lately, called up ? It is thought that would be sufficient. They get out plenty of coal, for which a ready sale is guaranteed. The coal already produced is really of first class quality, and is being used by the Lady Barkly. Waimea South Quartz Crushing _ Company Shaiiks, 10s paid. No bcrsif\ ne3S. No shares changing hands ; there is no disposition to sell, which certainly"* looks wefl, and shows that tho shareholders are confident. ' The machinery is being taken on to the site, and soou will be in order. Our share market can boast of one investment this week, and that foreign, capital. Shai eholders are anxiously looking for the Cuilt ford's first crushing. Dorau's machinery will be ready to go up in 10 days. The Waimca South Company are takiug vigorous steps. The Colliugwood Coal Company are advancing, and the Perseverance Company, which has been at work, and bringing in gold, will soon have numerous competitors at. work. To-day is to be decided who is to be the future Legal Manager of this Company.